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ING Life India

ING Life India

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Published by Ankita Gala

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Published by: Ankita Gala on Sep 15, 2012
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Insurance
Insurance is a method of spreading and transferring of risk. People who are exposed tothat same kind of risk come together and agree that, if any one of them suffer a loss, theothers will share the loss and make good to the person, the loss.Insurance is a cooperative device by which the loss likely to be caused by an uncertainevent is spread over a number of persons who are exposed to it and who propose toinsure themselves against such an event. Insurance helps in replacing risk with knowncosts. It does not reduce or alter the risk but it only reduces/spreads the financial losses.
Life Insurance
Traditionally, Life insurance has always been a way to protect your survivors anddependents against financial hardship. Simply put, Life insurance offers financialprotection to you and your loved ones when you retire, die or are unable to continueproviding financially due to unforeseen incidents. While nothing can substitute yourloss, insurance at least takes care of the financial gap created by your absence or theabsence of an active income source. It thus tries to eliminate risk by substitutingcertainty for uncertaintyLife insurance therefore, in the traditional sense, helps an individual cope with the twinrisks of:Dying too early; orLiving too longHowever Life Insurance has evolved over time. Today it is a smart savings andinvestment option and can offer market linked returns. With the right life insurancepolicy you can be assured of maintaining your standard of living and even improve it.You can plan for your aspirations and time your policies to get you a lump sum amount just when you need it or you can simply make your money grow for the rainy day. It can
help you meet your child’s educational needs, their marriage expenses or for p
urchasing
that dream home that you’ve always wanted.
 
 
ING Life India
ING Vysya Life Insurance Company Private Limited entered the private life insuranceindustry in India in September 2001, and in a short span of nearly 3 years hasestablished itself as a distinctive life insurance brand with an innovative, attractive andcustomer friendly product portfolio and a professional advisor force. It also distributesproducts in close cooperation with the ING Vysya Bank network. Currently, it has over8000 active advisors working from 43 branches (in 23 cities) across the country and over800 employees.ING Vysya Life Insurance Company is headquartered at Bangalore and has established anational presence in the following cities: Delhi, Chandigarh, Ludhiana, Jaipur andGurgaon in the North; Mumbai, Pune, Nagpur, Ahmedabad and Vadodara in the West;Kolkata in the East; Bangalore, Hyderabad, Chennai, Vizag, Vijaywada, Mangalore,Mysore, Cochin, Coimbatore, Guntur, Hubli and Trivandrum in the South.The company has over 1,00,000 customers as on date and has achieved a premiumincome of Rs. 114 crore since start of businessING Vysya Life Insurance is a joint venture between ING Insurance International BV a
part of ING Group, the world’s largest life insurance company
(Fortune Global 500,2003), ING Vysya Bank, with 2 million customers and over 400 outlets and GMRTechnologies and Industries Limited, part of GMR Group also based in Bangalore andinvolved in the field of power generation, infrastructure development and several otherbusinesses. ING Vysya Life Insurance recently achieved the significant milestone of completing 10 years of operations in India.
Footprint
ING Life Insurance India is currently present in over 200 cities and serves over 1 millionpolicy holders in India.
Distribution Channels
The company distributes its products through two channels, Tied Agency and AlternateChannel. The Tied Agency Channel comprises over 30,000 ING Life Insurance Advisors,spread across the country. The Alternate Channel is a fast growing distribution channel,and includes Bancassurance partner (ING Vysya Bank), Cooperative Banks, CorporateAgents and Brokers
.
 
 
Individual Life Insurance Plans & Financialinvestment planning Products
ING Life Insurance aims to make customers look at life insurance afresh, not just as a taxsaving device but as a means to live life to the fullest. It believes in enhancing the veryquality of life, in addition to safeguarding an individual's security.
The Company follows a “customer centric approach” while designing its life insurance
products. The ING Life product portfolio offers products that cater to every financialrequirement, at all life stages.
Children Plans
ING Aashirvad
Creating Life Child Protection Plan
Creating Life Money Back Plan
Protection Plans
ING Term Life
ING Term Life Plus
Savings Plans
ING Secured Income Insurance Plans
Reassuring Life Endowment Plan

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